Opec+, which includes most Opec members, along with a number of non-Opec producers led by Russian Federation, agreed to cut output by 1.2 million barrels per day (Mmbpd) from January 1 for six months, to try to prevent inventories from increasing and weakening prices.
The price of worldwide standard Brent crude ticked up this morning by 1.1 per cent to $73.03, more than $18 higher than when the cuts started in January and the highest point for almost a month.
OPEC, of which Saudi Arabia is de facto leader, would have more data at its next meeting in late June to help it reach the best decision on output, Falih said.
Iran said on Tuesday that it would resist USA pressure, declining further talks under current circumstances.
According to U.S. media reports, Trump's long-hawkish national security advisor John Bolton is pushing a hard line on Iran, but others in the administration are resisting.
At the end of the meeting, Falih told a news conference the OPEC+ nations were "unanimous in continuing to work to achieve stability between supply and demand".
The head of Iran's Revolutionary Guard, Gen. Hossein Salami, was quoted Sunday as saying Iran is not looking for war, But he said the U.S.is going to fail in the near future "because they are frustrated and hopeless" and are looking for a way out of the current escalation.
OPEC's commitment to limiting supply and reducing output has helped oil prices recover after coming close to breaking below $40 a barrel back in November past year.
Ukraine's leader disbands parliament, calls early election
He starred as a history teacher who was unexpectedly elected president after his expletive-laden rant about corruption went viral. Mr Groysman said he had offered to work under Mr Zelensky but added that "the president chose a different path".
"Although multilateral institutions have moderated their forecasts of world growth, the levels are still reasonably healthy with the United States leading a steady performance while the Chinese economy started the year fairly strongly", Falih said.
The message, which was released on Thursday and also sent to diplomats, warned that flying in the region could pose danger to USA aircraft.
The alliance had responded with cuts at Opec's annual meeting in Vienna last year to correct oversupply in the market, which saw prices plummet by 30 per cent by year-end after rising to a three-year high of $86.2 per barrel in October. Earlier this week the United States pulled some diplomatic staff from its embassy in Baghdad following weekend attacks on four oil tankers in the Gulf. "While both are eyeing Iran's market share, they are on the opposing sides of the conflict around Iran".
The International Energy Agency said last week Iranian crude production fell in April to 2.6 million bpd, down from 3.9 million bpd before sanctions were re-instated.
Kpler data shows OPEC+ members have kept to agreed production cuts.
Tensions between Saudi Arabia and Iran are running high after last week's attacks on two Saudi oil tankers off the UAE coast and another on Saudi oil facilities inside the kingdom.
On Sunday, President Trump took to Twitter and vowed that a war between the two countries would result in "the official end of Iran".